Wall Street Aims To Open Substantially Higher

Early signs from the U.S. Futures Index suggest that Wall Street might open significantly higher on Tuesday.

Investors are closely watching the Russian invasion of Ukraine. Evacuation is going on in Ukraine as Russia goes ahead with combat in various regions.

Asian shares finished higher, while European shares are trading up.

As of 7.45 am ET, the Dow futures were up 394.00 points, the S&P 500 futures were adding 62.75 points and the Nasdaq 100 futures were progressing 237.00 points.

The U.S. stocks ended mixed on Monday. The Dow ended slightly up at 32,223.42, gaining 26.76 points or 0.08 percent. The S&P 500 lost 15.88 points or 0.39 percent at 4,008.01. The Nasdaq closed with a loss of 142.21 points or 1.2 percent at 11,662.79.

On the economic front, the Commerce Department’s Retail Sales for April will be issued at 8.30 am ET. The consensus is for an increase of 0.8 percent, while it was up 0.5 percent in the prior month.

The Fed Industrial Production for April will be released at 9.15 am ET. The consensus is for an increase of 0.4 percent, while it was up 0.9 percent in February.

The Commerce Department’s Business Inventories for March will be published at 10.00 am ET. The consensus is for an increase of 1.8 percent, while it was up 1.5 percent in the prior month.

The Housing Market Index for May will be released at 10.00 am ET. The consensus is for 75, while it was up 77 in the prior month.

Federal Reserve Chairman Jerome Powell will participate in a conversation before the Wall Street Journal Future of Everything Festival at 2.00 pm ET.

Philadelphia Federal Reserve Bank President Patrick Harker will speak on Healthcare as an Economic Driver before hybrid Stern Future Healthcare Workforce Summit at 9.15 am ET.

Cleveland Federal Reserve Bank President Loretta Mester to give opening remarks before virtual Cleveland Fed Conversations at 2.30 am ET.

Chicago Federal Reserve Bank President Charles Evans to speak on current economic conditions or monetary policy before the Money Marketeers of New York University at 6.45 am ET.

Asian stocks finished broadly higher on Tuesday. China’s Shanghai Composite index rose 0.65 percent to 3,093.70. Hong Kong’s Hang Seng index jumped as much as 3.27 percent to 20,602.52.

Japanese shares continued to gain on Tuesday. The Nikki average rose 0.42 percent to 26,659.75.

Australian markets rose for a third straight session. The benchmark S&P/ASX 200 edged up 0.27 percent to 7,112.50.

European shares are trading higher. CAC 40 of France is gaining 75.90 points or 1.20 percent. DAX of Germany is adding 198.16 points or 1.43 percent. FTSE 100 of England is progressing 60.15 points or 0.80 percent. Swiss Market Index is up 93.98 points or 0.80 percent.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 1.47 percent.

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